If Labor Day marks the unofficial end of summer, then the stock market may soon make it official. The September storm clouds are gathering.

Oil prices are flirting with $100 a barrel again, more than six months into the Iran conflict. It's a dalliance equities could really do without.

Stocks have ignored elevated oil prices up to now-the S&P 500 is up 12% since the Iran conflict began even as Brent crude prices have jumped 35%. That might not last given that inflation will dictate whether, and how often, the Federal Reserve hikes rates in the months ahead.

The Dow is the worst hit index to start the trading week, but that's largely down to Amgen, which slumped after its Swiss rival Novartis released disappointing trial data. SpaceX investors may actually enjoy the fall and beyond, if a new $3 trillion valuation comes to pass.

Our thoughts are with the families and loved ones of those who died in the Amazon cargo plane crash at Miami International Airport on Sunday. We have all the latest on the investigation.

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📈 Here's what's happening in markets today:

Dow futures slump as Middle East fears grip stock markets.

Intel, Amgen, Novartis, and more stocks that explain today's market.

Oil nears $100 a barrel again. Why things could get messy for markets.

Amazon, Boeing stocks slip as inquiry into fatal Miami plane crash ramps up.

Amgen stock is dropping after Swiss rival's trial setback.

Boston Scientific 'unlikely to meet' earnings guidance after cyberattack.

SpaceX stock rises after bullish $3 trillion valuation.

📊 A look at Nvidia's public and private investment portfolio

Move over venture capitalists: Nvidia is the heavyweight investor in artificial intelligence, and the chip maker's portfolio is only set to get bigger in the coming years. As of July 26, Nvidia had $99 billion of equity investments and equity investment commitments of $25 billion. The devil is in the details, so Barron's wrote this guide.

🍎 Meet the Nothing phone that's taking on the establishment

In Silicon Valley, venture capital dollars are rushing to find AI targets, with total venture funding surging to $256 billion in the first quarter of 2026, according to PitchBook, surpassing the 2025 total. Now a start-up called Nothing is taking on the phone establishment. Barron's looked at what it means for Apple, which debuts its new iPhone this week.

🛒 S&P 500 companies' plans for $10 billion in tariff refunds

S&P 500 companies have gotten $10 billion in refunded tariffs, but are consumers expected to see some of their money back? Walmart is lowering prices, as are Dollar Tree and Burlington. But many companies expect the refunds to offset the cost of inflation, which may mean freezing prices or minimizing increases. Barron's analyzed the plans.

🍁 Canadians keep their boycott of U.S. products alive

President Donald Trump's tariffs and latest verbal attacks on Canada have spurred Canadians to double down on their ongoing boycott of all things U.S.A. Grocery stores mark Canada-produced items with the maple leaf symbol; food makers are replacing American ingredients with non-U. S. products; and tourism to the U.S. is way down.

💉 Soaring healthcare costs are forcing employers to act

As employers brace for a fresh round of rising healthcare costs that outpace inflation, the stakes are getting higher for companies to contain spending on treatments such as popular GLP-1 drugs. Consultants at Marsh found employers expect per-employee health benefit costs to increase 8.2% in 2027-the highest jump since 2003.

🏘? In a sluggish housing market, people turn to redecorating

Home sales season is winding down with a whimper while mortgage rates move closer to 7%. A recent Bank of America Institute analysis of internal data found that some homeowners are choosing renovation over relocation and renters are spending on furniture. Home equity line of credit utilization is on the upswing, Bank of America found.

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🔵 Fatal Amazon Prime crash scene in Miami described as devastating

The scene of a fatal Amazon cargo plane crash at Miami's airport over the weekend was described as "devastating" by the chief of the federal agency that investigates civil aviation accidents. Five people died in the crash of Amazon Prime Flight 7598, a Boeing 767-300 that ran off the runway and hit several vehicles.

💬 Quote of the day:

Other headlines moving markets:

Micron's stock reclaims $1,000. What comes next.

Airline stocks are struggling, but this is a long-term buy.

Why SpaceX's new Starship booster matters.

Bond yields spook Wall Street but Europe has a bigger problem.

The real risk of Trump's frustration with higher rates.

Gen Zers and Millennials had a big summer betting on sports.

A Novartis drug trial stumbled. Can a rare-disease treatment lift shares?

Local data center fights are reshaping the midterms-here's how.

Bessent, the sequel: How far he goes to appease the bond market.

-Edited by Liz Moyer, Stacy Ozol, and Rupert Steiner